Official figures released today show the unemployment rate has fallen to 4.5% – the lowest level since 1975. The number of people in work is also at the highest level since records began in 1971.
According to the Office of National Statistics, the employment rate is at a record high of 74.9%, with 32.01 million people now in work – an increase of 324,000 on the year. The record figures have been driven by increases in the number of people in full time work.
Minister for Employment, Damian Hinds said: “These latest statistics are another reminder that our strong economy is giving record numbers of people the chance to find and stay in work.
“Unemployment is low, employment is high and there are over three quarters of a million vacancies. This is great news for Britain and for millions of ordinary working families.
“We’re committed to delivering a welfare system which transforms lives and offers help to those who need it most, whatever their background or wherever they are from.”
Today’s figures also show:
- The female employment rate is at a record high of 70.4%, with over 15 million women in work.
- Youth unemployment is down by 377,000 since 2010
Separate figures out today show 1.2 million claims have been made to Universal Credit. Of the 540,000 people now claiming Universal Credit, 39% are in work.